Question

Nick is preparing a budget for a catering company. His company can lease a van for $149.00 biweekly. The monthly insurance premium will be $207.00. He estimates costs of $350.00 per month for gas and $750.00 per year for maintenance.

A) What should Nick budget for a year of leasing the van?

Answer 1

To calculate the annual cost of leasing the van, we need to first calculate the biweekly cost and then multiply it by the number of weeks in a year.

Biweekly cost: $149
Monthly cost: $149 * 2 = $298
Annual cost: $298 * 12 = $3576

Therefore, Nick should budget $3576 for a year of leasing the van.